R&D Tax Credits

R&D tax credits could be available to your company if you have undertaken projects that have led to the improvement or creation of a product, service, or process. The actual output of your project need not even be unique in the marketplace, or as a concept, as the long as the process is knowledge that is held only within your company. The fundamental requirement to qualify, is that the development points in your research and development cycle are not areas that could have been routinely tackled by competent professionals and required technical thinking above and beyond the normal course of duties, thus involving some ‘uncertainty’ in outcome.  

There are no specific fields that eligibility is restricted to, but typically claims are most common within software development, agriculture, engineering, robotics, and biotechnology. Once successfully claimed, the tax credits are received either as a reduction to the company’s corporation tax liability, or as a cash sum. Your claim will be investigated by HMRC if they require greater surety in its eligibility, and we will also be on hand to assist you in such instances.